Ieq Capital LLC Purchases Shares of 53,762 Harmony Biosciences Holdings, Inc. $HRMY

Key Points

• Ieq Capital LLC acquired 53,762 shares of Harmony Biosciences, valued at approximately $1.96 million, giving it a 0.09% stake. Institutional investors collectively own 86.23% of the company.
• Harmony Biosciences reported strong quarterly results, with EPS of $1.28 versus the $0.96 consensus estimate and revenue of $261.28 million, up 30.3% year over year.
• Analyst sentiment remains mixed: the stock carries a consensus “Hold” rating and a $45.50 target price, despite several Buy ratings and a recent price of $38.95.

Ieq Capital LLC purchased a new position in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 53,762 shares of the company's stock, valued at approximately $1,957,000. Ieq Capital LLC owned about 0.09% of Harmony Biosciences at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC increased its position in Harmony Biosciences by 589.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 752 shares of the company's stock worth $28,000 after purchasing an additional 643 shares in the last quarter. Leonteq Securities AG acquired a new position in Harmony Biosciences during the fourth quarter valued at approximately $30,000. Allworth Financial LP lifted its position in Harmony Biosciences by 286.7% during the fourth quarter. Allworth Financial LP now owns 812 shares of the company's stock valued at $30,000 after buying an additional 602 shares in the last quarter. Clearstead Advisors LLC grew its stake in Harmony Biosciences by 145.9% during the fourth quarter. Clearstead Advisors LLC now owns 1,178 shares of the company's stock worth $44,000 after buying an additional 699 shares during the period. Finally, Kestra Advisory Services LLC purchased a new stake in Harmony Biosciences during the fourth quarter worth approximately $47,000. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Harmony Biosciences Trading Up 1.2%

NASDAQ HRMY opened at $38.95 on Wednesday. The stock has a market cap of $2.27 billion, a P/E ratio of 12.65, a PEG ratio of 0.36 and a beta of 0.96. The company's fifty day simple moving average is $36.51 and its 200-day simple moving average is $32.74. The company has a current ratio of 3.48, a quick ratio of 3.45 and a debt-to-equity ratio of 0.13. Harmony Biosciences Holdings, Inc. has a 52 week low of $25.52 and a 52 week high of $40.87.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last announced its earnings results on Tuesday, August 4th. The company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.32. Harmony Biosciences had a return on equity of 20.06% and a net margin of 18.88%.The company had revenue of $261.28 million during the quarter, compared to the consensus estimate of $250.77 million. During the same period last year, the firm earned $0.92 earnings per share. The company's revenue was up 30.3% on a year-over-year basis. Equities research analysts predict that Harmony Biosciences Holdings, Inc. will post 3.77 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on HRMY shares. Oppenheimer restated an "outperform" rating and set a $70.00 target price on shares of Harmony Biosciences in a report on Tuesday, August 4th. Zacks Research downgraded Harmony Biosciences from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 11th. Needham & Company LLC raised their price objective on Harmony Biosciences from $45.00 to $50.00 and gave the company a "buy" rating in a research report on Tuesday, August 4th. UBS Group restated a "neutral" rating and set a $37.00 price objective on shares of Harmony Biosciences in a research note on Wednesday, August 5th. Finally, Weiss Ratings raised Harmony Biosciences from a "hold (c)" rating to a "hold (c+)" rating in a research report on Monday, August 17th. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $45.50.

Harmony Biosciences Company Profile

Harmony Biosciences Holdings, Inc is a commercial‐stage biopharmaceutical company focused on developing and delivering therapies for people with rare neurological and endocrine diseases. Founded in 2017 and headquartered in Plymouth Meeting, Pennsylvania, Harmony Biosciences went public in 2020 and trades on the Nasdaq under the ticker HRMY. The company's mission centers on identifying and advancing medicines that address critical unmet needs in patient populations underserved by existing treatments.

The company's flagship product is WAKIX (pitolisant), the first and only histamine H3 receptor antagonist/inverse agonist approved by the U.S.

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